The fund house is looking at financing corporates who need short term capital, with the newly floated fund.
Recognising the critical role that financial advisors play in the wealth preservation process and the par of sound advice UTI Mutual Fund and CNBC-TV18 celebrates the effort of financial advisors across the country.
While 2016 has been a year of uncertainties, 2017 will bring realignment to the world. Even with foreign investors withdrawing from India, domestic investors have not dried up yet, said Leo Puri, MD of UTI Asset Management.
Demonetisation is likely to accelerate reallocation of funds from physical assets to financial assets, Leo Puri, MD of UTI MF said. This was already happening earlier due to low yields.
The mutual funds industry will significantly benefit from demonetisation as it may see 15-20 percent enhancement in inflows in the next 6-12 months, says Leo Puri, Managing Director at UTI Mutual Fund.
RBI Governor Raghuram Rajan kept the key policy rate unchanged in his last policy meet -- as expected, and brought down the curtains on what could said to be a stellar inning. CNBC-TV18 spoke to a wide spectrum of people from different walks of life to share their views on the outgoing governor.
The board should look at strengthening the governance first and then shift focus to capitalisation and then consolidation, says Leo Puri, Managing Director of UTI Asset Management.
UTI Mutual Fund and CNBC-TV18s Financial Advisor Awards at Bengaluru have a power packed forum with experts from the financial advisory community who will be addressing the opportunities and challenges faced by independent financial advisors especially in current turbulent markets.
Consolidation is part of a process to essentially create a more sustainable financial burden and eventually hopefully redefine relationship between the government and the nationalised banks, says Leo Puri, Managing Director of UTI AMC.
Reacting to the market‘s rally on Tuesday, Leo Puri, MD of UTI Asset management said that the government‘s decision to stick to the fiscal deficit target has provided confidence and net flows have been positive from retail investors.
UTI Mutual Fund and CNBC-TV18‘s Financial Advisor Awards, India‘s most esteemed awards to recognise the role of independent financial advisors is now in its seventh year. This year the series kick-starts with a power packed interaction between Latha Venkatesh, the Executive Editor of CNBC-TV18 and the MD of UTI Asset Management Company, Leo Puri.
"I do think that we are going to see a period of stress. But my advice to retail investors is that if you are fundamentally invested, don't panic, because we are a relative standout in the global economy," says UTI Mutual Fund's Leo Puri
UTI AMC, which runs UTI Mutual Fund, is also looking to launch an Initial Public Offer (IPO) to become the country's first asset management company to go public.
Asserting that UTI Mutual Fund is the only large independent asset manager in the country, its chief Leo Puri has said that the fund house's proposed IPO will further strengthen this character.
There is still enough belief that we have a government that is broadly committed to reforms. That is not fundamentally altered, while there are varying degrees of expectations on the pace, speed and execution and approach.
Puri, a dual Masters degree holder from Oxford and Cambridge University of the UK, said that India is a high- growth economy that has reasonable potential for 7 percent plus growth over the next 2-3 years.
UTI AMC, which runs the country's oldest fund house UTI MF, had earlier also planned to launch an IPO, but it had to shelve its plans way back in 2008 due to adverse market conditions, despite having got all regulatory clearances.
Speaking exclusively from the sidelines of the CII Mutual Fund Summit, Leo Puri, managing director of UTI AMC says that the volatility in the Indian market is much lesser than peers and he remains fairly optimistic on the mutual fund industry's growth outlook.
In an interview with CNBC-TV18's Prerna Baruah, UTI AMC MD Leo Puri talked about the recent stock market volatility, his view on the reforms progress and when one could see the company get listed.
Leo Puri also said that FIIs have been the main drivers so far but it is good to see that domestic investors including HNIs and retail investors have been participating.
The company is likely to come up with an IPO by the middle of next year as it is difficult this financial year given the paucity of time, said MD Leo Puri.
Leo Puri, MD of UTI AMC believes it is imperative that both the Reserve Bank and the government demonstrate commitment with regard to monetary policy and reforms respectively.
Leo Puri, the MD of UTI Asset Management says "It is a clear vote of confidence in the outlook and the medium to long-term outlook for the asset management industry. A Japanese interest in India at the moment, I would say is a sign perhaps for many Indian entrepreneurs who set up these companies."
In Kolkata, conventionally, debt has been the preferred asset class and mutual fund has been an investment choice
According to Leo Puri, the company is off to a good start but will do better as it learns. "We have taken the approach largely through print media which is the Swatantra Series on which we received fairly positive feedback," he adds.